Marketing Mix Of MakeMyTrip Deploying Open Source Technology to Drive Growth

Posted by Zander Henry on Aug-22-2018

1. marketing mix

1.1. Understanding the marketing mix

• The marketing mix is an important set of marketing tools and characteristics that a firm uses to increase penetration in the target market groups
• Using the marketing mix strategically includes focusing on seven important aspects of marketing and branding for an organization, namely: product, place, price, promotion, people, process, and physical evidence

1.2. Importance of marketing mix

• The marketing mix helps a company choose and decide on a suitable marketing strategy
• The marketing mix also helps a company in resource and budget allocation to different aspects of the marketing strategy and product development
• The marketing mix also allows a company to choose the right and effective marketing tactics for its promotional needs

2. Marketing mix for MakeMyTrip Deploying Open Source Technology to Drive Growth

MakeMyTrip Deploying Open Source Technology to Drive Growth makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix MakeMyTrip Deploying Open Source Technology to Drive Growth is presented below:

2.1. Product

Product is one of the most important components of the MakeMyTrip Deploying Open Source Technology to Drive Growth Marketing mix. The distinctive characteristics of the product by MakeMyTrip Deploying Open Source Technology to Drive Growth are:

2.1.1. Quality

• MakeMyTrip Deploying Open Source Technology to Drive Growth maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• MakeMyTrip Deploying Open Source Technology to Drive Growth procures raw materials from reliable and trusted suppliers only
• These raw materials are processed under carefully maintained environments to maintain high and consistent quality of the products
• High quality promise and delivery also provides MakeMyTrip Deploying Open Source Technology to Drive Growth with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by MakeMyTrip Deploying Open Source Technology to Drive Growth are relatively easy to use
• All products come with a user manual, which is easy to understand and which provides simple instructions for product use
• The consumers can also call the 24/7 helpline to understand details about product usage
• Also, retail representatives provide detailed instructions and explanations regarding the use of the product at the time of the sale

2.1.3. Portfolio broadness

• MakeMyTrip Deploying Open Source Technology to Drive Growth has a broad portfolio of products
• The broad portfolio helps MakeMyTrip Deploying Open Source Technology to Drive Growth in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to MakeMyTrip Deploying Open Source Technology to Drive Growth
• The broader product portfolio also adds more value for MakeMyTrip Deploying Open Source Technology to Drive Growth

2.1.4. Benefits of product consumption

• MakeMyTrip Deploying Open Source Technology to Drive Growth offers functional benefits to consumers of the product use
• These functional benefits are promised and delivered – however, they are also delivered by other similar products
• The distinguishing aspect of MakeMyTrip Deploying Open Source Technology to Drive Growth is its delivery of emotional benefits to the consumer
• Products manufactured and sold by MakeMyTrip Deploying Open Source Technology to Drive Growth promise consumers an ego boost, confidence, and security
• MakeMyTrip Deploying Open Source Technology to Drive Growth also promises fulfilment of psychological needs on product consumption
• These psychological needs include, for example, the need for empathy, the need for belonging, and the need of feeling loved.

2.1.5. Different SKUs

• The products by MakeMyTrip Deploying Open Source Technology to Drive Growth are available in different sizes
• MakeMyTrip Deploying Open Source Technology to Drive Growth has made use of different SKUs to increase market penetration
• Different SKUs can be brought and used as per the consumption needs of the consumers, and the target markets
• Through the production of different SKUs, MakeMyTrip Deploying Open Source Technology to Drive Growth has also increased the trial rate
• Different SKUs have also helped MakeMyTrip Deploying Open Source Technology to Drive Growth improve its product accessibility

2.2. Price

MakeMyTrip Deploying Open Source Technology to Drive Growth marketing mix focuses on a hybrid strategy for pricing to obtain maximum value for its products. The marketing mix MakeMyTrip Deploying Open Source Technology to Drive Growth uses a combination of a number of techniques for pricing its products, which are detailed below:

2.2.1. Premium pricing

• By using premium pricing for some of its product ranges, MakeMyTrip Deploying Open Source Technology to Drive Growth encourages favorable brand and product perceptions in target consumer groups
• Premium pricing for products also encourages a favorable quality perception of MakeMyTrip Deploying Open Source Technology to Drive Growth products amongst consumers
• With premium prices, MakeMyTrip Deploying Open Source Technology to Drive Growth has successfully also made some of its product ranges exclusive by restricting sales and production. This, in turn, leads to a perception g luxury in consumption products
• Premium prices add a touch of privilege and high value in MakeMyTrip Deploying Open Source Technology to Drive Growth products
• Using elements of premium prices in other product ranges has also allowed MakeMyTrip Deploying Open Source Technology to Drive Growth to maintain significantly high profits and a consistent business growth

2.2.2. Psychological pricing

• Since MakeMyTrip Deploying Open Source Technology to Drive Growth has a number of different product ranges and product groups, the use of psychological pricing has been beneficial
• With the use of psychological pricing, MakeMyTrip Deploying Open Source Technology to Drive Growth also successfully adds more value to its products from the point of view of customers
• MakeMyTrip Deploying Open Source Technology to Drive Growth also gains higher sales with psychological pricing
• Consumer purchase a higher amount of MakeMyTrip Deploying Open Source Technology to Drive Growth products because of its use of psychological pricing
• MakeMyTrip Deploying Open Source Technology to Drive Growth is able to increase its target audience and broaden its target purchaser groups

2.2.3. Geographical pricing

• MakeMyTrip Deploying Open Source Technology to Drive Growth is able to penetrate different regional markets optimally with the use of geographical pricing
• For offshore locations, geographical pricing also allows MakeMyTrip Deploying Open Source Technology to Drive Growth to cover shipping and customs expenses
• Geographical pricing also allows MakeMyTrip Deploying Open Source Technology to Drive Growth to maintain consistent revenue growth by altering pricing in different markets based on local currency value

2.2.4. Bundle pricing

• For some product ranges, MakeMyTrip Deploying Open Source Technology to Drive Growth is also known to use bundle pricing strategy popularly
• MakeMyTrip Deploying Open Source Technology to Drive Growth also uses bundle pricing during sales
• Bundle pricing increases the trial rate for consumers
• MakeMyTrip Deploying Open Source Technology to Drive Growth experiences higher return on the cost of gaining a new customer
• With bundle pricing, MakeMyTrip Deploying Open Source Technology to Drive Growth is also able to control costs and prices by lowering marketing and distribution expenses
• The use of bundle pricing also adds value to the umbrella brand name of MakeMyTrip Deploying Open Source Technology to Drive Growth.

2.3. Placement

MakeMyTrip Deploying Open Source Technology to Drive Growth places high importance on the placement of its products because it directly relates to accessibility for consumers.

2.3.1. Company-operated stored

• The company maintains stores operated by the management of MakeMyTrip Deploying Open Source Technology to Drive Growth in all markets
• Company-operated stores give MakeMyTrip Deploying Open Source Technology to Drive Growth higher control over operations as well as store layout and design
• MakeMyTrip Deploying Open Source Technology to Drive Growth also interacts directly with the consumers and gathers important details regarding consumer behavior and consumer feedback through company-operated stores
• The company operated stores also give leverage to MakeMyTrip Deploying Open Source Technology to Drive Growth in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

• MakeMyTrip Deploying Open Source Technology to Drive Growth licensed stores also allow consumers to enjoy the various product offerings by the company
• Licensed stores also decrease the risk of financial and physical investment for MakeMyTrip Deploying Open Source Technology to Drive Growth in unstable markets
• Licensed stores have also given MakeMyTrip Deploying Open Source Technology to Drive Growth high business growth, and a boost for rapid market expansion and penetration
• Through licensed stores, MakeMyTrip Deploying Open Source Technology to Drive Growth has also learned about local consumers and cultures
• Licensed stores and shops encourage sales of products by MakeMyTrip Deploying Open Source Technology to Drive Growth by aligning it with local cultural values
• Licensed stores also help MakeMyTrip Deploying Open Source Technology to Drive Growth in localizing its product offerings to enhance brand equity and band image

2.3.3. E-commerce

• MakeMyTrip Deploying Open Source Technology to Drive Growth has developed a successfully operational website for online order placement and order tracking
• MakeMyTrip Deploying Open Source Technology to Drive Growth also encourages sales through social media portals, where the company takes orders through direct messages, as well as through a mini-shop model
• The company also stocks products with online retailers such as Amazon and eBay, as well as smaller local online retailers as well
• Online retailing, and using the internet to make sales has boosted the sales for MakeMyTrip Deploying Open Source Technology to Drive Growth and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• MakeMyTrip Deploying Open Source Technology to Drive Growth also places its products in supermarkets and hypermarkets across the country
• A large number of MakeMyTrip Deploying Open Source Technology to Drive Growth target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for MakeMyTrip Deploying Open Source Technology to Drive Growth

2.3.5. Partner agents

• In offshore locations, MakeMyTrip Deploying Open Source Technology to Drive Growth also makes use of partner agents for its products’ placement
• These partner agents are assessed and evaluated on strategic compatibility and reliance
• MakeMyTrip Deploying Open Source Technology to Drive Growth contracts with partner agents in other countries and markets for its product placement to ensure quality control and terms of negotiation

2.4. Promotion

The marketing strategy for MakeMyTrip Deploying Open Source Technology to Drive Growth also places high importance on the promotional tactics and strategies used. The promotional strategies allow the MakeMyTrip Deploying Open Source Technology to Drive Growth to interact with the consumers and influence them directly. MakeMyTrip Deploying Open Source Technology to Drive Growth uses a 360-degree approach in its promotional activities, and makes use of the following means of promotion:

2.4.1. Digital marketing

• MakeMyTrip Deploying Open Source Technology to Drive Growth has corporate profiles on all social media websites and portals
• MakeMyTrip Deploying Open Source Technology to Drive Growth uses its social media presence to directly, engage with consumers
• This direct engagement and interaction allows MakeMyTrip Deploying Open Source Technology to Drive Growth to understand the customers, their needs and demands
• MakeMyTrip Deploying Open Source Technology to Drive Growth uses this feedback and incorporates it in its broader marketing and organizational strategy
• MakeMyTrip Deploying Open Source Technology to Drive Growth also maintains a corporate website – which highlights company information, product information as well as information regarding any ongoing campaigns and sales

2.4.2. Reward Programs

• MakeMyTrip Deploying Open Source Technology to Drive Growth has a loyalty card program for its customers
• The loyalty card allows customers to redeem points in exchange for products or other exciting gifts, as directed by the company
• Each purchase is entered into the loyalty card by MakeMyTrip Deploying Open Source Technology to Drive Growth and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by MakeMyTrip Deploying Open Source Technology to Drive Growth on high valued purchases
• Frequent usage and purchase of products by MakeMyTrip Deploying Open Source Technology to Drive Growth also has rewards against the loyalty card

2.4.3. Community Influencers

• MakeMyTrip Deploying Open Source Technology to Drive Growth makes use of community influencers as its on-ground promotional efforts
• MakeMyTrip Deploying Open Source Technology to Drive Growth identifies strong and confident individuals to be brand ambassadors in their communities
• MakeMyTrip Deploying Open Source Technology to Drive Growth provides these brand ambassadors and community influencers with its product range and invites them to use it themselves to see benefits

2.4.4. Conventional marketing

• The company places advertisements in consumer-related magazines. This largely includes home decor, and home management magazines
• Magazine ads are not very frequent, but appear twice every quarter of the fiscal year
• In high-density locations, MakeMyTrip Deploying Open Source Technology to Drive Growth also makes use of out of house hoardings
• Hoardings increase visibility for MakeMyTrip Deploying Open Source Technology to Drive Growth and also work towards building stronger brand recall
• MakeMyTrip Deploying Open Source Technology to Drive Growth also produces TV advertisements
• All TV advertisements have an emotional appeal to them
• TV advertisements by MakeMyTrip Deploying Open Source Technology to Drive Growth have progressed to include a slice of life elements and characteristics
• TV advertisements by MakeMyTrip Deploying Open Source Technology to Drive Growth also highlight the functional benefits of the product

2.5. People

The marketing mix of MakeMyTrip Deploying Open Source Technology to Drive Growth also places an essential focus on people development and people building. This is because MakeMyTrip Deploying Open Source Technology to Drive Growth realizes the importance of employees in building strong customer relationships. MakeMyTrip Deploying Open Source Technology to Drive Growth develops its employee and people by focusing on the following aspects:

2.5.1. Training

• MakeMyTrip Deploying Open Source Technology to Drive Growth makes sure that all employees undergo regular training sessions for skill development and enhancement
• Trainings at MakeMyTrip Deploying Open Source Technology to Drive Growth are not the only field related, but also focus on essential management and organizational skills
• Training sessions and activities at MakeMyTrip Deploying Open Source Technology to Drive Growth also identify with the employee's own needs of progression, development and growth
• All training sessions and activities designed and carried out by MakeMyTrip Deploying Open Source Technology to Drive Growth take into consideration business goals and objectives, as well as employee's personal goals and aspirations
• MakeMyTrip Deploying Open Source Technology to Drive Growth, therefore, tries to develop the employee as an organizational member, as well as an individual
• All training is engaging, and hands-on so that employees do not only learn but also experience

2.5.2. Organizational ownership

• MakeMyTrip Deploying Open Source Technology to Drive Growth works on strengthening the organizational commitment in its employees
• MakeMyTrip Deploying Open Source Technology to Drive Growth builds employee loyalty so that people can reflect their optimal best at work
• MakeMyTrip Deploying Open Source Technology to Drive Growth also understands that satisfied employees will lead to happy and satisfied customers
• MakeMyTrip Deploying Open Source Technology to Drive Growth regularly shares different reward programs for employees, including stock sharing, so that their organizational commitment and ownership is enhanced
• MakeMyTrip Deploying Open Source Technology to Drive Growth also includes employees in decision making at different managerial levels, and regularly takes their feedback for different projects and products – which also work towards building organizational ownership

2.5.3. Motivation building

• MakeMyTrip Deploying Open Source Technology to Drive Growth employees are the face of the organization
• MakeMyTrip Deploying Open Source Technology to Drive Growth are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that MakeMyTrip Deploying Open Source Technology to Drive Growth distributes
• Another source of motivation is appreciation programs where management appreciates and acknowledges the work and performance of different employees

2.5.4. Succession planning

• MakeMyTrip Deploying Open Source Technology to Drive Growth remains one of the leading players in the industry also because of its focus on succession planning
• MakeMyTrip Deploying Open Source Technology to Drive Growth conducts succession planning for all managerial levels
• Succession planning is done through internal promotions as well as external recruitments to meet the needs and demands of the vacant job position at MakeMyTrip Deploying Open Source Technology to Drive Growth
• Strategic succession planning has allowed MakeMyTrip Deploying Open Source Technology to Drive Growth to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

MakeMyTrip Deploying Open Source Technology to Drive Growth has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at MakeMyTrip Deploying Open Source Technology to Drive Growth are clearly defined and communicated to the employees
• MakeMyTrip Deploying Open Source Technology to Drive Growth makes sure that employees are well trained, and knowledgeable of all processes relates to operations
• All stages of operational processes focus on maintaining a high quality level and standard of the products
• Systematic process re in place for all operation – from procurement to the final sale of the products
• All operational processes are maintained, checked, and uploaded through the internal portal of the organization for supervisory purposes
• The use of online portals for operational processes also builds a strong backup for managerial purposes at MakeMyTrip Deploying Open Source Technology to Drive Growth

2.6.2. People Management

• MakeMyTrip Deploying Open Source Technology to Drive Growth has also defined clear processes for people management through streamlining its human resource management department
• MakeMyTrip Deploying Open Source Technology to Drive Growth has defined guidelines regarding recruitment, training, compensation management, and performance appraisal of employees
• All people related processes are not only communicated to the management and supervisors, but also to employees to create a sense of transparency, and an environment of trust
• Progressive people management systems and processes have allowed MakeMyTrip Deploying Open Source Technology to Drive Growth to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• MakeMyTrip Deploying Open Source Technology to Drive Growth also has defined policies and processes for managing and maintaining quality
• All products undergo triple quality checks to ensure that customers receive the best product
• In addition to quality checks at the production and distribution level, the management has also placed separate quality maintenance and quality check department
• The quality maintenance department has experts who make sure that not only the final product but also the processes involved in producing the product were infused with quality

2.6.4. Store management

• MakeMyTrip Deploying Open Source Technology to Drive Growth manages store management through stringent and closely monitored policies and processes
• These processes relate to not only the floor and space design but also to the performance of the employees at the store
• The processes for store management also regularly monitor footfall and work on strategies to increase footfall through different tactics, and changes in the store design and store management
• The company also has a systematic process for customers who interact with the products and feel them before making the purchase
• The final sale at the store is also clearly defined – for the employees and the customers both
• Processes and policies are important for MakeMyTrip Deploying Open Source Technology to Drive Growth for maintaining quality of the products, and for ensuring that the company does not experience any unnecessary expenses and costs

2.7. Physical evidence

The physical evidence is also important in the marketing strategy for MakeMyTrip Deploying Open Source Technology to Drive Growth as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for MakeMyTrip Deploying Open Source Technology to Drive Growth include:

2.7.1. Store atmosphere

• The store design and management for MakeMyTrip Deploying Open Source Technology to Drive Growth is exciting and creative
• The store atmosphere makes the customers feel relaxed and comfortable –so that they can interact with, and enjoy product offerings by MakeMyTrip Deploying Open Source Technology to Drive Growth at ease
• The store design is also important for MakeMyTrip Deploying Open Source Technology to Drive Growth because it controls the level and nature of experience and interaction that the customers have with the product and the brand
• With company-operated stores, it is easier for MakeMyTrip Deploying Open Source Technology to Drive Growth to control and manage the store atmosphere to be able to positively influence customers and to be able to appeal to them emotionally

2.7.2. Packaging

• MakeMyTrip Deploying Open Source Technology to Drive Growth has unique packaging, which is different from other players in the industry
• MakeMyTrip Deploying Open Source Technology to Drive Growth also has a vibrant touché to its packaging, which is regularly changed in terms of colors and patterns
• The logo for the company is simple, and recognizable by the consumers easily
• The brand logo has also become a symbol of confidence, ambition, and aspiration for consumers who use products by MakeMyTrip Deploying Open Source Technology to Drive Growth
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by MakeMyTrip Deploying Open Source Technology to Drive Growth

2.7.3. Website design

• The website design is simple and easy to use
• MakeMyTrip Deploying Open Source Technology to Drive Growth has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of MakeMyTrip Deploying Open Source Technology to Drive Growth also has the brand logo, and is packaged similarly to the products offered by the company
• The design patterns, and color change on the website with changes to the product packaging to match various campaign needs and sale offerings